https://www.engineeringnews.co.za

South African rand weakens ahead of Fed decision

South African rand weakens ahead of Fed decision

Photo by Reuters

17th December 2024

By: Reuters

  

Font size: - +

South Africa's rand slipped against a stronger dollar on Tuesday, as investors turn their attention to the Federal Reserve's interest rate decision.

At 0820 GMT, the rand traded at 17.93 against the greenback, about 0.4% weaker than its previous close. 

The dollar index was last trading up about 0.2% against a basket of currencies.

The Fed will announce its interest rate decision on Wednesday, with markets expecting a 25 basis point cut, but the focus will also be on the central bank's tone on rates for the year ahead.

"A conservative tone will likely support the USD and pressure EM (emerging market) currencies, including ZAR," said Andre Cilliers, Currency Strategist at TreasuryONE. 

On the stock market, the Top-40 index was down about 0.9%.

South Africa's benchmark 2030 government bond was slightly weaker, with the yield up 1 basis point at 8.93%.
 

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 
Flanders Electrical SA
Flanders Electrical SA

FLANDERS Southern Africa provides integrated solutions for mining and industrial operations, covering field services, automation, electrification,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.051 0.85s - 148pq - 2rq
Subscribe Now